News Archive
2010
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2009
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2008
Bank News
A Loan Voice In Boca Raton Seeks Action
31 December 2008
FEW expected the shock waves from ANZ's entanglement with Opes Prime to be felt as far as Boca Raton, Florida, but a specialist US securities law firm there has finalised a class action against the bank, in which it alleges that US investors were misled by management... read full story
Shoppers Chase Down Bank Robber
30 December 2008
OUTRAGED shoppers chased and tackled a bank robber who had held a female staff member hostage and stole a bag of cash in Sydney's west yesterday, holding him until police arrived... read full story
Symond Snatched Wizard From Nab
26 December 2008
A LAST-MINUTE intervention by John Symond saw a joint bid by his Aussie Home Loans business and the Commonwealth Bank snatch Wizard Home Loans from the grasp of National Australia Bank, it emerged yesterday... read full story
Commbank Defends Disclosures
22 December 2008
THE Commonwealth Bank's board is standing firm behind its top executives as regulators this week plan to assess whether the banking giant breached disclosure rules surrounding its $2 billion capital raising... read full story
Top Banker Role A One-way Ticket To Retirement
22 December 2008
The impending departure of John Stewart from the hot seat at National Australia Bank has opened up a vacancy at the very top of the industry's lobbying group, the Australian Bankers Association - a job which has tended to go in a Buggins-kind of turn to one of the "Big Four" chief executives... read full story
Cba Facing Debt Disclosure Probe
20 December 2008
THE corporate regulator will go ahead with an investigation into Commonwealth Bank's possible breach of disclosure rules following this week's botched $2billion capital raising... read full story
The $198b Lehman Mystery
20 December 2008
Three months after the bank's demise, old questions linger and new queries arise, writes Andrew Ross Sorkin... read full story
Cba Shares Slump Follows $2 Billion Botch-up
19 December 2008
COMMONWEALTH Bank shares slumped 9per cent as they resumed trading a day after the bank botched a $2billion capital raising and was forced to reveal its outlook for lending losses... read full story
Ceo In Waiting, Waiting, Waiting ...
19 December 2008
HE WAS a true celebrity chief executive - charismatic, stylish and sometimes brash. But although Ahmed Fahour says he's happy to stay put at National Australia Bank, it seems the one-time crown prince of Australian banking has become something like its version of Peter Costello... read full story
Hands-on Role For Nab Boss
19 December 2008
INCOMING National Australia Bank chief executive Cameron Clyne has moved early to stamp his mark on the banking giant by personally taking charge of the lender's flagship Australian operations... read full story
$2bn Slip Up By ... Which Bank?
18 December 2008
COMMONWEALTH BANK is blaming Merrill, Merrill is blaming Commonwealth. One thing is certain; the bank's abortive $2billion share placement that fell apart on Tuesday night was more redolent of a tin-pot minerals explorer than a major bank... read full story
Bank Giant In Botched $2bn Deal
18 December 2008
THE Commonwealth Bank is in damage control after a monumental blunder forced it to abort a multibillion-dollar capital raising and refund angry investors... read full story
Commonwealth, Merrill Brawl Over $2b Bungle
18 December 2008
THE Commonwealth Bank and Merrill Lynch were last night locked in a multimillion-dollar brawl over the embarrassing fiasco that forced the bank to scrap a $2 billion capital raising and then replace it with a cut-priced deal at a lower cost... read full story
Nab Conjures Hefty Discount For Wizard
18 December 2008
THE American financial giant GE Money will lose most of the $400 million-plus it paid for Wizard Home Loans if National Australia Bank proceeds to buy one of the best known non-bank mortgage providers... read full story
Reserve Declares Rate Cut Time-out
17 December 2008
AUSTRALIA'S Reserve Bank has declared "time-out" after four consecutive months of interest rate cuts, saying it needs "a period of assessment ... over the summer"... read full story
Path Opens To Merger Up North
12 December 2008
THE Bank of Queensland has declared all options open as it pushes ahead with a review of its business that could lead to the regional lender merging or forging a joint venture with a bigger rival... read full story
Banks Told To Show Their Fees At Atms
11 December 2008
THE COST of withdrawing money from an ATM owned by a bank other than your own will, from March, have to be displayed on the screen before the transaction... read full story
Cba Gets Nod For Move On Bankwest
11 December 2008
THE competition regulator has waved through Commonwealth Bank's $2.1billion move on BankWest, admitting the Perth-based lender would have found it tough to remain as an aggressive competitor... read full story
Think Big, Keep Pace, Seek $1b
11 December 2008
A CAPITAL raising amounting to as much as $1 billion has been announced by the Commonwealth Bank in a move aimed at bolstering its balance sheet and keeping pace with its competitors... read full story
Westpac Taps Market For $2.5b
10 December 2008
WESTPAC is to take its balance sheet-boosting measures to almost $4 billion after tapping its institutional investors for $2.5 billion yesterday in a move which reflected the high cost of buying its smaller rival, St George Bank... read full story
Westpac To Raise $3bn In Capital
10 December 2008
WESTPAC is pushing ahead with a bigger-than-expected $3billion capital raising aimed at bolstering its balance sheet as it absorbs smaller St George Bank, which ran a riskier lending book... read full story
Fears Of More Violence Over Hebron Eviction
6 December 2008
SECURITY forces are bracing for more violence after Israeli hardliners went on the rampage against Palestinians in retaliation for the eviction of settlers from a house in the occupied West Bank town of Hebron... read full story
Israeli Settlers Run Riot After Hebron Eviction
6 December 2008
THE stand-off between 200 right-wing settlers and the Israeli armed forces has ended with their swift eviction from the so-called House of Contention in the Israeli-occupied West Bank town of Hebron... read full story
Alert On Bank Legal Fees Rort
5 December 2008
THE state's highest court has raised a red alert over what it believes may be a widespread practice in the Australian banking and finance industry of banks demanding exorbitant legal costs from borrowers that lose legal challenges... read full story
Hints to help you save money
5 December 2008
If you are having trouble saving your money, we`ve got some tips you might find handy. Learn more now and to start saving... read full story
Bank Mooted To Boost Infrastructure
4 December 2008
THE Government is believed to be considering a national infrastructure bank that would borrow billions of dollars to lend to the states to invest in projects... read full story
Dragon's Cut Bests Its New Boss
4 December 2008
ST GEORGE BANK'S freedom of operation under its new owner Westpac has amounted to a $9-a-month benefit to home-owners after it cut its home loan rates yesterday by slightly more than its parent, following the Reserve Bank's full one percentage point reduction this week... read full story
Rudd May Set Up 'infrastructure Bank'
4 December 2008
THE Federal Government is considering setting up a national infrastructure bank that would borrow billions of dollars to lend to the states to invest in projects... read full story
Anz Fighting Off Circling Share Shark
3 December 2008
WITH an interest rate cut looming, the last thing ANZ's media department needed was a "bottom feeder" trawling through the bank's share register... read full story
Bank Comes About: Slow And Steady As She Goes
3 December 2008
YESTERDAY'S interest rate cut ends the second stage of the Reserve Bank's response to the debt-driven world slump. Next year it will move on to stage three, which is likely to see subtler responses... read full story
Costello's Us Trip Raises Questions About His Day Job
3 December 2008
THE former Treasurer Peter Costello has missed the final week of Parliament to dedicate time to his second job as a member of the World Bank's anti-corruption board... read full story
Swan Wants Customers To Feel The Full Benefit
3 December 2008
ANZ and Westpac have come under criticism from Treasurer Wayne Swan for failing to pass on to customers the full benefit of the Reserve Bank's rate cut, with both lenders blaming financial market turmoil for pressuring funding costs... read full story
The Bottom Of The Interest Rate Barrel Is A Long Way Off
3 December 2008
When you are vowing to do what it takes to get the economy back on track, it helps to have a reasonable amount of "what it takes" in reserve, as the Reserve Bank demonstrated yesterday... read full story
